Multi family office
A multi-family office (multi-client family office) is usually an independent organization that supports several families in the management of large assets . There are a total of 4,250 family offices in Europe , of which around 1,920 are multi-family offices.
definition
A Multi Family Office (MFO) is a company that manages investments and trusts for several wealthy families. Multi family offices typically offer a variety of services including tax and estate planning, risk management , financial advice , trust , lifestyle management, professional coordination, investment advice and foundation management. Some multi-family offices also offer personal services such as managing staff and household or / and travel planning. Since the individual achievements of a family offices tailored to the customer respectively on the family and are more expensive because of this, has a family usually a minimum size of 50 million euros.
The terms family office and multi-family office are not protected. As a result, there are many different providers of family office services on the market. A key point is complete independence from (financial) service companies. This ensures objective and customer-oriented advice.
history
Family offices have their roots in the 6th century when the caretaker (or majordomo) was responsible for managing the royal family wealth. Later in the 6th century the aristocracy began to use these services from the caretaker as well. This gave rise to the concept of the administrator's office, which still exists today in its basic form.
The modern concept for family offices was developed in the 19th century. In 1838 the family of financier and art collector JP Morgan founded the House of Morgan , where the family's assets were managed. In 1882 the Rockefellers founded their own family office, which is still in existence today (May 2010).
Many family offices were initially a so-called single family office. In this case, the family owns the organization and uses its services exclusively for itself. So that the very high operational costs of a single family office do not have to be borne by a single family, the families often decided to offer their services to third parties.
Individual evidence
- ↑ The European Family Office Market ( Memento of the original from May 10, 2010 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. , Celent, July 18, 2008
- ↑ P. Stocker: Insight into the workshop. In: denaris 2006, edition 12, no. 1, pp. 31–33. Online ( Memento of the original from January 30, 2012 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 195 kB). Retrieved May 3, 2010.
- ↑ R. Raimondi: From the "Hausmeier" to the Rockefellers. In: denaris 2009, edition 1, no. 2, pp. 29–30. Online ( Memento of the original from September 1, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF). Retrieved May 3, 2010.
